FTSE 100 firms in Friday relief rally

16 August 2019 | 16:44pm

StockMarketWire.com - Following a delayed start to trading blamed on a technical glitch, the FTSE 100 finished in the black on Friday, joining a market relief rally built on a hopeful assumption central banks will step in and try to steer the global economy away from a recession.

At 16.30, the blue chip benchmark closed up 48.3 points at 7,115.35, a 0.68% gain on the day.

LARGE AND MID CAP RISERS AND FALLERS

Exchange operator London Stock Exchange rose 2% to 6,858 having eventually gotten trading back on track after blaming the earlier delay on a 'potential trading services issue'.

The delay had affected the FTSE 100 and FTSE 250, though shares in smaller companies on AIM and the FTSE 350 had traded normally all morning.

Ultra Electronics finished the session 18p higher at 2,160p having announced that its joint venture with Sparton DeLeon Springs had won a contract worth up to $1.04bn for the manufacture of sonobuoys for the US Navy.

Oil services business Hunting improved 2.9% to 426.2p after completing the complementary acquisition of Texas-based RTI Energy Systems for $12.5m.

Fashion retailer Ted Baker cheapened 4.5p to 899p despite news it has forged a product licence agreement with rival Next to accelerate the expansion of its childrenswear collections, replacing an existing arrangement with department store chain Debenhams. Next shed 18p to trade at 5,622p.

SMALL CAP RISERS AND FALLERS

Cake decorations and food ingredients company Real Good Food slumped 6.9% to 6.75p after it booked a deeper annual loss, as revenue slipped and it wrote down the value of its assets.

Pendragon gave up early gains to finish 0.37% easier at 10.7p despite announcing that it had agreed to sell its Chevrolet motor-vehicle dealership in Puente Hills, California to businessman Scott Biehl for around £17.2m.

Network security company Corero tumbled 39% to 3.85p after it warned of a wider annual loss, amid disappointing sales.

Healthcare-focused communications group Cello Health was unchanged at 128p after it announced that it had acquired scientific consultancy Innovative Science Solutions for up to $10.5m.

Illustrated book publisher Quarto shed 1.5% to 66.5p, as it booked a first-half loss, after a small rise in sales was more than offset by expenses.

Panthera Resources reversed 4.4% to 8.12p after booking a full-year loss, although the company also said it was close to securing $0.5m of funding.

Aluminium and power producer EN+ Group reversed 1.5% to 7.13p as its revenue fell sharply in the first half of the year, driven by a decline in aluminium prices amid the ongoing US-China trade war.

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